Eco Baltia plans to evaluate strategic options of the environmental business of the group
The largest environmental resource management and recycling group in the Baltics, Eco Baltia JSC (AS), plans to evaluate the strategic options of the group's environmental business.
Māris Simanovičs, Chairman of the Board of Eco Baltia AS: "Over the recent years Eco Baltia was transformed from a local player to an international group of companies. It contributes to the development of circular economy by providing a full cycle of waste management, - from environmental resource management to waste recycling. Thanks to the group's strong management and shareholder base, the last few years have evidenced record growth rates. As we continue striving for even more ambitious strategic business goals, it has been decided to assess the future market opportunities and strategic options for the environmental management companies”.
Eco Baltia is considering different potential alternatives that can add value to the companies’ shareholders, customers and employees. Together with external advisors, Eco Baltia is reviewing its business portfolio. As part of this process, the management board of the company may consider a sale, merger or other transaction involving Eco Baltia companies. However, there is no certainty whether the assessment will result in any transactions. The market will be informed on progress as appropriate.
About Eco Baltia
Eco Baltia group is the largest environmental and waste management group in the Baltics, providing the full-cycle waste management solutions from waste collection and sorting to secondary raw material logistics, wholesale and raw material processing as well as PET and PE/PP plastics recycling.
"Eco Baltia operates in two sectors - environmental resource management, which includes Eco Baltia vide, Latvijas Zaļais punkts, JUMIS, Nordic Plast and Ecoservice group in Lithuania, and recycling, which includes PET Baltija in Latvia, Tesil Fibres in the Czech Republic and Metal Plast in Poland.
Eco Baltia group has closed 2022 with its historically highest consolidated turnover of EUR 210 million, representing a 75% increase compared to 2021. Total combined sales revenue (pro-forma) in 2022 amounted to 240.5 million euro.
Shareholders of Eco Baltia are private equity fund INVL Baltic Sea Growth Fund (52.81%), the European Bank for the Reconstruction and Development (30.51%) and Māris Simanovičs (16.68%).
Additional information:
Alise Zvaigzne
Public Relations Project Manager
Eco Baltia
Phone +371 28780467
alise.zvaigzne@ecobaltia.lv
www.ecobaltia.lv
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